That is absolutely the biggest misunderstanding possible.
The entire function of markets is to discover usefulness!
The primary role of government is to provide a rule of law for markets.
Should there be pollution? No
Should there be snake oil or harmful consumer products? No
Should there be fraud and deception? No
Guess what when those happen those are GOVERNMENT failures! Not market failures. Any profits from those activities are not the reason they happened, the governments failure is.
In an economy that has a functioning government with law and order and regulations to protect property rights and public goods, but no intervention, then:
Profits == Usefulness
It’s absolutely outrageous how current western culture has failed to teach basic economic facts. As I have said numerous times, this is equivalent to believing in creationism and teaching it in schools as truth while having overwhelming evidence of evolution. That’s the situation we are in.
Collectivism, socialism, communism, social democracy, social justice, whatever name you assign to this idea a central planner who should adjust the system, intervene. they are all fairy tales that are being taught as facts while we actually have undeniably scientific and hard evidence of how human societies function economically and structurally, amongst honest people, honest intellectuals, there is no question about what works and why. Well regulated markets, NOT with interventions or redistribution, are the single most positive force in human history. Unfortunately culture and politics are holding us back in western civilization with a rival of the failed fairytales of previous times.